Financial Planning

A well thought of financial plan is like having your cake and eating it too. Not only does it luxuriously hold your present together, but it also provides the certainty of maintaining your present lifestyle even in the evening of your life. A financial plan encompasses the complete gamut of professional and personal monetary requirements and goals. 

PROFESSIONAL:

• Cash Flow
• Working Capital
• Debt Management
• Risk Management
• Taxes

PERSONAL

• Children’s Education
• Luxury Spendings
• Retirement Security
• Estate Planning
• Investments
• insurances

A financial plan is a strategically charted out map to your ultimate financial goals with regular milestones, demarcated along the map, for foolproof evaluation of the journey being taken on the right course and reaching the right place at the right time.

While it shows you a clear starting line to the race to your financial goals, it also gives you a clear picture of how much it would cost for you to be a winner at the finish line. If you consider your financial plan to be the guide of your financial journey, you can consider all your diverse strategic investments as your varying transport choices of travel.

An air travel is the quickest mode to reach your desired destination,  travelling by train allows you to enjoy the scenic journey as long as you want and yet sleep when you would wish to, not bothering about steering the train as needed, while a self-driven car travel could be a good mix of comfort and adventure, providing you with opportune halts yet keeping you alert and responsible as a driver.

Likewise an accomplished financial advisor would come up with a financial plan for you that has different investments to cater to your immediate financial needs reaping quick results, your long-term wealth generating investments that keep accumulating wealth with minimum attention needed from your side and some bold investment options that may need prudent monitoring and timely decisions.

A good financial plan often accounts for and includes a scope for revisions, if and when needed, depending on situational practicality. People who can’t swim are often scared of water; but it is also true that you can’t learn to swim till you get into the water and once you’ve done that you sure are ready to hit the sea !

Likewise, not making a financial plan because you want to avoid the overwhelming nitty gritties of the process is akin to not exploring the sea at beautiful beaches because you chose not to learn swimming.

Financial planning may come across as a tedious process till you realise the benefits it offers and the repercussions of not having one. Once you cross the threshold of your apprehensions and trust a competent advisor, Financial planning is your surest way to a secured and comfortable present and future. 

Why Do We Need A Financial Plan ?

A Financial plan is a strong umbrella that has you covered for all seasons through all the good and bad times. Noone fully knows what the future has in store for them but everyone can very well be prepared to a large extent to withstand any unprecedented storm that might catch them unawares. From unforeseen losses in business, to an unfortunate illness in the family or a sudden death of a closed one, life can take a rude turn any moment. Financial planning makes it a bit easy for you to face these difficulties. Besides, it helps you set, plan and achieve your career goals and ensure that your retired life doesn’t need you to compromise with the lifestyle you are used to now. 

A financial plan is not a privilege limited to the rich. No matter how much you earn at any moment, what exactly you want to be earning at a certain age, is what financial planning helps you with. Bit by bit and step by step you can build an investment portfolio that could ultimately lead you to your financial goals. Just like achieving every financial goal is just the beginning of a new and bigger goal, investments are also altered as per your capacity and needs. A virtuous financial adviser navigates you through your current financial abilities to your dream luxury status. A financial plan helps you to decide what you can afford or should let go in order to achieve your final financial position. It teaches you to differentiate between your wants and needs and on the whole gives you the vision to invest with your farthest future in sight.